02.05.2011 - Australia: Official data shows home prices fell 1.7pct in March quarter as auctions continue to struggle

More signs of ongoing weakness in the property market have appeared, with official price indices statistics showing Australian residential properties have dropped in value by 1.7% over the March quarter.
The result comes alongside auction statistics from last weekend, which show a less-than-stellar result as the number of properties on the market continues to exceed those looking to buy, experts warn..............................................Full Article: Source